This Memorial Day, The Weatherly team honors those who lost their lives while defending our country. We wish all our clients and community a safe and happy holiday weekend with family and friends. As a reminder, our office will be closed with the markets on Monday, May 27th in observance of Memorial Day.

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Over the past year we’ve had many phrases added to our lexicon – social distancing, flatten the curve, Zoom fatigue, and many others.

For every “can you hear me?” or “you’re on mute” we’ve heard, we’ve also felt concern and hope for our collective communities.

In March of 2020, we were told to shelter-in-place and now twelve months in, we are optimistic about broader re-opening in the near future while the WAM team continues to operate in a hybrid model.  The rapid rate at which governments, businesses and scientists worked together to develop and administer a global vaccination is unparalleled.

We wanted to share this blog to keep you up to date on Spring happenings at Weatherly.

Updates on Taxes:

2020: The recent 2020 tax year was unlike any other, with strategies like Roth Conversions and skipping Required Minimum Distributions applying to many of our clients.  We’ve found this tax guide as well as this article helpful in highlights the changes that may apply to your unique situation.

The IRS extended the deadline to file for the 2020 tax year to May 17th; taxpayers do not have to take any action to take advantage of the extended deadline.  The deadline to make a Q1 estimate remains April 15th

Prior to filing, you may be eligible to contribute to IRAs (Traditional, Non-deductible, SEP and Roth) or make an employer contribution to a Self-Employed 401k.  Our 2020 and 2021 Key Data Chart may be useful in determining the limits that apply to you.

Custodians have rolled out most tax forms at this juncture, and our team has been providing to clients and tax professionals securely.  Please let us know if there is anything we can provide for your tax filing, and as always we appreciate a secure copy when completed.

2021: The Biden Administration has been busy working on the $1.9 Trillion stimulus plan, known as the American Rescue Plan passed last week, to aid in boosting the economy and supporting those most impacted by the pandemic.

The American Rescue Plan outlines short-term solutions to aid the economy, however President Biden is now focusing on long-term economic plans and modifying the tax code to help close the funding gap.  Bloomberg highlighted the first major tax hike since 1993 in this article, with a focus on raising the corporate tax rate, raising the income tax rate on those earning more than $400,000 and expanding the estate tax reach.

Our team of advisors are available to discuss planning opportunities and how the potential tax bill may impact you and your family.

Updates on Our Team:

The Weatherly team continued to learn and grow over the last year, despite the challenges that were presented working and living in a remote environment.

Aubrey Brown, one of our Wealth Management Associate Advisors, completed his Master of Science Degree in Personal Financial Planning through the College for Financial Planning (CFFP) in 2020.  Aubrey continues to develop his expertise in planning for clients.

Yoshi Brownlee, our Team Administrator and Marketing Specialist, obtained a Professional Certificate in Marketing offered through SDSU’s College of Extended Studies and One Club San Diego in September 2020.  Yoshi continues to work with the Partners to develop the Firm’s marketing initiatives.

We also onboarded Andrea Taylor as a Wealth Management Associate in February.  Andrea’s 4 years with Ernst & Young in audit and accounting coupled with a Masters of Science in Accountancy will augment our team of professionals.

Weatherly in the News:

We have many exciting updates on our the Weatherly Newsroom.

In the March 13th edition of Barron’s, Carolyn was named as a Top 1200 Advisor.  She was also listed as one of Forbes 2021 Best-in-State Wealth Advisors.

Carolyn, Brent Armstrong, Kelli Ruby and Ryan Richardson were also named 2021 Five Star Wealth Managers.

Our team is proud of what we have accomplished over the past 26+ years and being able to serve our clients during a global pandemic.  Weatherly also surpassed $1 Billion in assets under management at the end of 2020.

ADV and Privacy Policy:

On an annual basis Weatherly Asset Management (WAM), as an SEC Registered Advisor, is required to deliver the following documents to all of our clients either electronically or by US mail; please see attached:

Part 3 of Form ADV (Form CRS)

Part 2A of Form ADV (the Firm Brochure)

Part 2B of Form ADV (the Brochure Supplement)

WAM Privacy Policy

If you have opted for hard copy delivery of compliance communications, you will be receiving these in the mail in the coming weeks. These documents have also been posted to all client portals for future reference.

** The information provided should not be interpreted as a recommendation, no aspects of your individual financial situation were considered. Always consult a financial professional before implementing any strategies derived from the information above.